5549. Upland State Bank (Upland, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 1, 1932*
Location
Upland, Indiana (40.476, -85.494)

Metadata

Model
gpt-5-mini
Short Digest
ea924cc3aac48d42

Response Measures

None

Description

Articles report the Upland State Bank closed in August 1932 by vote of directors for liquidation and later had a receiver appointed (application filed Nov 29, 1932; receiver appointed Dec 6, 1932). No newspaper text describes a depositor run; closure was for liquidation, so classified as suspension leading to permanent closure with receivership.

Events (3)
1. August 1, 1932* Suspension
Cause
Voluntary Liquidation
Cause Details
Directors voted to close the bank for liquidating purposes; bank described as failing and insolvent with public funds among deposits.
Newspaper Excerpt
The bank which closed Aug. 1932, is in failing and insolvent condition, according the application ... the directors voted to close the institution for liquidating purposes.
Source
newspapers
2. November 29, 1932 Other
Newspaper Excerpt
Application for receiver for the Upland State Bank today was filed in the Grant superior court by Luther F. Symons, state banking commissioner. Hearing on the application was set for 10 m. Dec. The bank which closed Aug. 1932 ... STATE OF INDIANA on relation of Luther Symons vs. Upland State Bank, application for receiver. James M. Ogden. (court docket item).
Source
newspapers
3. December 6, 1932 Receivership
Newspaper Excerpt
Following testimony in superior court yesterday by Luther F. Symons, state banking commissioner ... Judge Oren Dickey appointed Doris Reynolds receiver the institution. Bond of $15,000 was provided and Reynolds took the duties of the receivership appointment ... said the stockholders and directors of the bank appealed for Reynolds' appointment ... Symons testified that assets of the bank only liabilities totalling ... amount to about $16,000.
Source
newspapers

Newspaper Articles (3)
1. November 29, 1932 Chronicle Tribune Marion, IN
Article from Chronicle Tribune, November 29, 1932

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Article Text

SYMONS URGES BANK RECEIVER Application for receiver for the Upland State Bank today was filed in the Grant superior court by Luther F. Symons, state banking commissioner. Hearing on the application was set for 10 m. Dec. The bank which closed Aug. 1932, is in failing and insolvent condition, according the applicaprepared filed by Atty. tion Gen. James M. Ogden. The bank had deposits of more than $100,000 which more than $30,000 was public funds at the time the directors voted to close the institution for liquidating purposes. E. Leach, former cashier of the bank, was named liquidating agent.

2. November 29, 1932 Chronicle Tribune Marion, IN
Article from Chronicle Tribune, November 29, 1932

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Article Text

SUITS FILED CIRCUIT COURT Claud E. Andrews and Mary Bernice Andrews vs. Mary A. Shugart et al, statement of restoration of sanity. Hardin and Biddinger. Eli E. Coats vs. Eva Ward, deed and contract. Hardin and Biddinger. SUPERIOR COURT First National Bank vs Marion Aero Club, Inc., and Arthur E. Thompson, complaint on note. Condo, Van Atta and Batton. State of Indiana on relation of Luther Symons vs. Upland State Bank, application for receiver. James M. Ogden. Phoebe Shadle vs. Wayne Shadle, divorce. Harry E. Roberts. First National Bank vs Paul Hutchison and others, foreclosure. Condo, Van Atta and Batton. Marion National Bank vs. Elizabeth S. King and others, foreclosure. Condo, Van Atta and Batton.

3. December 6, 1932 Leader-Tribune Marion, IN
Article from Leader-Tribune, December 6, 1932

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Article Text

BANK RECEIVER Court Appoints Doris Reynolds Handle Affairs of Closed to Institution; Symons Testifies. Following testimony in superior court yesterday by Luther F. Symstate banking commissioner, the effect that the condition of the closed Upland State Bank necessitates the appointment of receiver, Judge Oren Dickey appointed Doris Reynolds receiver the stitution. Bond of $15,000 was provided and Reynolds took the duties of the receivership Appointment the receiver after two had been persons suggested for place. appointment asked by Ross Troyer, former trustee, said the stockholders and directors of the Appealing for Reynolds' appointment was Ben Puckett, said chairman of the depositors comSymons testified that assets of the bank only liabilities totalling The bank capitalized for Included public funds amounting assessment necessary against Symons said, amount to about $16,000.